Logistics company Gati has posted total consolidated revenues of Rs 404.94 crore for the quarter ended September 30. This was a decrease of 1.67% year-on-year from Rs 411.85 crore in the same quarter last year. On a sequential basis, total revenues decreased 2.71% from Rs 416.24 crore. Note for the current quarter, Gati has not disclosed revenues from its ecommerce division, Gati e-connect. The company's ecommerce business had posted revenues of Rs 45 crore in the preceding quarter. At the time Gati's director of finance Sanjeev Kumar Jain had said that growth is “primarily led by our e-commerce business, which almost constitutes 11% of our total revenue.” Financials – The company posted a net profit of Rs 5.8 crore for Q2FY16, a decline of 16.15% from Rs 6.94 crore in the same quarter last year. - The express distribution and supply chain segment reported revenues of Rs 350.45 crore, an increase of 1.91% from Rs 343.88 in Q2 FY15. Profit before tax for the segment stood at Rs 21.51 crore, a sharp decline of 28.46% from Rs 30.07 crore in the same quarter last year. The segment accounted for 86.54% of the total revenues. - Employee benefit expenses were up nearly 16% and stood at Rs 44 crore as against Rs 38 crore in the year-ago period. Meanwhile, expenses related to depreciation were at Rs 9.76 crore as compared to Rs 7.60 in the corresponding quarter last year. Other developments and need to know - The company is awaiting clarification from the Reserve…
